Daily Analysis - 12/11/2019
It has been more than six years of discussions, 15 countries in the Asia Pacific are now trying to come to an agreement and sign the world’s largest trade deal in 2020. The agreement is described as the Regional Comprehensive Economic Partnership (RCEP) which includes all 10 nations from the Association of Southeast Asian Nations alliance and five of its most important trading allies: Australia, New Zealand, Japan, China, and South Korea. These 15 countries together are approximately one-third of the world population and are considered to be bigger than other regional trading alliances like the European Union.
Alibaba the Chinese e-commerce titan broke a record in sales while the world’s biggest 24-hour shopping experience Singles Day was in effect. A number that confirms the sales over Alibaba’s shopping platforms named Gross merchandise value, exceeded the 2018 record and scored 213.5 billion yuan that's approximately $30.5 billion yesterday and continued its growth through Monday.
According to a source familiar with the decision the United States President Donald Trump is assumed to take back a decision on whether to force taxes on European Union automobile imports for an additional six months. The Trump government must wait until Wednesday to choose if they going to strike the EU with import duties on cars and auto parts. That deadline had previously been forced back from May.
Travis Kalanick the co-founder of Uber and director dropped more than half a billion dollars’ value of stock last week following the Ubers expiration lockup period. Uber’s 6-month restriction ended last Wednesday, pushing the stock under that day in anticipation of a sale surge. According to a financial filing registered to the Securities and Exchange Commission, the former CEO of Uber Kalanick who was removed as the head following accusations regarding promoting toxic workplace conditions exchanged more than 20 million shares owned in trust in 48 hours last week.
